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Outstanding Isle of Wight company named as Finalist in South East Business Awards

Newport, Isle of Wight (PRWEB) February 6, 2008 -- The Awards, managed by the South East England Development Agency (SEEDA), recognise companies that have demonstrated a powerful business contribution to the region. The Awards celebrate successes across eight different categories that include rewarding companies' sustainability initiatives, contribution to the community, and innovative business practices. More than 300 companies from across the South East entered the awards, with only 28 making it through to the finals.

RF Engines, in Newport, is an electronics design company that develops high performance, complex digital signal processing techniques for the latest semiconductor 'chips' and is a finalist in the Innovation & Creativity category, sponsored by QinetiQ & Shoosmiths. RF Engines operates internationally, serving primarily the defence, communications and government industries, using a business model that is a hybrid of licensing deals and outright sale.

John Summers, RFEL's CEO, commented, "Being nominated for these awards is a great testament to our team of world class designers and their ability to create solutions that bring customers from around the world to our door. The SEBA awards are recognised as being highly prestigious, and winning the Innovation and Creativity Award would provide tremendous validation of our technology, the talents of the team, and the wonderful pro-business environment on the Isle of Wight."

Jeff Alexander, Executive Director of SEEDA's Global Competitiveness Division and head judge for the South East Business Awards, commended RF Engines, commenting: "Congratulations to RF Engines for achieving a place as a South East Business Award finalist. The company faced tough competition and has truly been established as one of the region's most outstanding companies. SEEDA's recent research* shows that companies value awards as having a positive impact on their business, and hopefully they will find their participation in the South East Business Awards reflects this."

Over the next few weeks the companies will receive visits from the South East Business Award judges as part of a rigorous evaluation process to identify the best in eight categories. The visits are designed not only to assist the judges in choosing the top company in each category but to give all finalists the opportunity to meet with highly ranked professional peers and evaluate how they can continue to develop their businesses.

The winners will be announced at the South East Business Awards final on 6th March, Ascot Racecourse, where Digby Lord Jones, Minister for Trade & Investment, will give the keynote speech.

More information about the Awards is available at southeastbusinessawards.co.uk

Notes for Editors

RF Engines

RF Engines Limited (RFEL) is a UK-based electronic systems designer, providing high specification signal processing solutions for FPGAs, as well as receiver and complete product solutions for the homeland security, defence, communications and instrumentation markets. Applications include communications base stations, satellite communications systems, test and measurement instrumentation, and bespoke wideband receivers/transceivers.

For more information on SEBA, please contact:

Francesca Fogell, SEEDA Marketing & PR Manager

Tel: +44 (0) 1483 484275, 07789 926735 or email francescafogell@seeda.co.uk

Or

Jillian Friant, the Twelve Consultancy

Tel: 0207 812 4031 or email jillian@twelvepr.co.uk

About SEEDA

The South East England Development Agency (SEEDA) is the Government funded Agency responsible for the sustainable economic development and regeneration of the South East of England - the driving force of the UK's economy. Our aim is to create a prosperous, dynamic and inspirational region by helping businesses compete more effectively, training a highly skilled workforce, supporting and enabling our communities while safeguarding our natural resources and cherishing our rich cultural heritage.

*The Regional Economic Strategy (RES) for South East England 2006 -2016: a world class region achieving sustainable prosperity.

The RES has three headline targets. Progress towards all three of these will provide evidence of overall progress against the vision:

Global Competitiveness: Achieving an average annual increase in GVA (Gross Value Added) per capita of at least 3%.

Smart Growth: Increasing productivity per worker by an average 2.4% annually, from £39,000 in 2005 to at least £50,000 by 2016 (in constant prices).

Sustainable Prosperity: Reducing the rate of increase in the region's ecological footprint (from 6.3 global hectares per capita in 2003, currently increasing at 1.1% per capita per annum), stabilizing it and seek to reduce it by 2016.

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